Iran’s Sardar Jangal gas field in Caspian Sea to yield 880,000 bpd

Jan 09, 2012 12:00 AM

The huge gas field, named Sardar Jangal, which has been recently discovered in Iran’s territorial waters in the Caspian Sea, has the capacity to produce 880,000 bpd of crude oil, MP Asadollah Abbasi says. Ali Osouli, managing director of Khazar Oil Company, announced in December 2011 that ‘the field holds an estimated 8 bn barrels of crude oil’.

“An exploratory well has been drilled in the gas field to give new details on its hydrocarbon reserves,” Osouli was quoted as saying. The Sardar Jangal field holds some 1.4 tcm of gas reserves.

The field, in waters 700 meters deep, lies wholly within Iran’s territorial waters. According to Oil Minister Rostam Qasemi, excluding Sardar Jangal, Iran has 11 tcm of proven gas reserves in the Caspian Sea. Qasemi also announced that Iran is now the sole country in the region which has found access to the technology to drill wells in deep waters.